Sterling Bay Tops Out Construction of 350-Unit Luxury Apartment Tower in Chicago

CHICAGO — Sterling Bay has topped out construction of 225 N Elizabeth, a 350-unit luxury apartment tower in Chicago’s Fulton Market district. The 28-story project is being developed in partnership with Ascentris, a Denver-based real estate private equity firm. McHugh Construction and Hartshorne Plunkard Architecture make up the project team. Amenities will include two rooftop spaces, an indoor/outdoor fitness center, pool, lounge area, pet grooming suite and outdoor dog turf. Project financing comes from Citizens Bank and Old National Bank. Of the total units, 70 will be designated as affordable housing for those who earn up to 60 percent of the area median income. Pre-leasing is scheduled to begin in early 2024, with the first units expected to deliver in March 2024.